Credfix raises Rs 16.1 crore in seed funding led by Tanglin Venture Partners
The investment will focus on enhancing artificial intelligence functions and extending support to borrowers nationwide.
By ET Online |
(From L-R) Sushant Kumar Panda Head of Analytics, Neeraj Kulkarni Co-founder, Ranjan Agarwal Co-founder, Ayush Kedia Co-founder, Sujeet Mandolkar Head of Operations.
BENGALURU: Credfix, an AI financial platform, has raised Rs 16.1 crore in seed funding led by Tanglin Venture Partners, with participation from Stargazer.
The fresh capital will accelerate product innovation, strengthen AI capabilities, and expand its nationwide borrower support ecosystem. Before this round, Credfix had raised Rs 4.5 crore from K2 Capital, Invstt Trust and a group of angel investors.
Credfix currently serves more than 2 lakh borrowers, representing over Rs 4,000 crore in aggregate outstanding debt.
Ranjan Agarwal, Co-founder, Credfix, said in a statement, "Financial distress is often accompanied by confusion, anxiety and a lack of trustworthy guidance. We believe borrowers deserve better. At Credfix, we are using artificial intelligence to simplify one of the most complex financial experiences, empowering individuals with clarity, confidence and actionable solutions. This investment marks an important milestone in our journey and will help us build technology that supports millions of borrowers in navigating debt with greater transparency and dignity."
Shashank Sabesan, Principal, Tanglin Venture Partners, said in a statement,"India has built remarkable infrastructure to distribute credit, but very few solutions to help borrowers when repayment gets hard. That gap is a large, unaddressed problem, and it's growing as millions of young borrowers enter the system. Credfix is built on a simple but powerful insight: borrowers who are supported and guided effectively are more likely to repay. This creates lasting value for everyone in the credit ecosystem. The early traction shows how strong the demand is, and we're excited to back the team as they scale."
Neeraj Kulkarni, Co-founder, Credfix, said in a statement, "Resolving a loan typically involves multiple disconnected interactions across lenders, recovery agencies and legal processes. Our vision is to unify this fragmented journey through AI, enabling borrowers to access timely, personalised and actionable support on a single platform. We are building technology that makes financial recovery simpler, faster and significantly less stressful."
The fresh capital will accelerate product innovation, strengthen AI capabilities, and expand its nationwide borrower support ecosystem. Before this round, Credfix had raised Rs 4.5 crore from K2 Capital, Invstt Trust and a group of angel investors.
Credfix currently serves more than 2 lakh borrowers, representing over Rs 4,000 crore in aggregate outstanding debt.
Ranjan Agarwal, Co-founder, Credfix, said in a statement, "Financial distress is often accompanied by confusion, anxiety and a lack of trustworthy guidance. We believe borrowers deserve better. At Credfix, we are using artificial intelligence to simplify one of the most complex financial experiences, empowering individuals with clarity, confidence and actionable solutions. This investment marks an important milestone in our journey and will help us build technology that supports millions of borrowers in navigating debt with greater transparency and dignity."
Shashank Sabesan, Principal, Tanglin Venture Partners, said in a statement,"India has built remarkable infrastructure to distribute credit, but very few solutions to help borrowers when repayment gets hard. That gap is a large, unaddressed problem, and it's growing as millions of young borrowers enter the system. Credfix is built on a simple but powerful insight: borrowers who are supported and guided effectively are more likely to repay. This creates lasting value for everyone in the credit ecosystem. The early traction shows how strong the demand is, and we're excited to back the team as they scale."
Neeraj Kulkarni, Co-founder, Credfix, said in a statement, "Resolving a loan typically involves multiple disconnected interactions across lenders, recovery agencies and legal processes. Our vision is to unify this fragmented journey through AI, enabling borrowers to access timely, personalised and actionable support on a single platform. We are building technology that makes financial recovery simpler, faster and significantly less stressful."
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